Eataly opens in London in April. Alessandra Gritti as president in place of Andrea Guerra- time.news

by time news

Replacement at the top of Eataly, the made in Italy chain founded by Oscar Farinetti that prepares the new course after the difficult year marked by the pandemic. The board of directors unanimously appointed Alessandra Gritti as chairman of the company. Gritti the co-founder together with Giovani Tamburi of Tip, the investment platform in the excellence of Made Italy of which vice president and managing director.

The appointment reflects recent changes at the top of the Italian food store network. Andrea Guerra, in fact, had left the role of operational president in 2019 as part of a succession in the family of the founder Oscar Farinetti who entrusted the leadership of the group to his son Nicola, 35, protagonist of the openings in the United States which are now worth 50% of revenues with seven Eataly stores and the expected opening in San Jos in Silicon Valley. Guerra, former operational president of Eataly, after his experience at the helm of Luxottica and at Palazzo Chigi with Matteo Renzi, reached the top of the world luxury giant LVMH.

Shareholders in Club

The assignment to Gritti also reflected the structure in the Eataly shareholders list where Tip has been a shareholder since 2014 through Clubitaly, with a stake that currently stands at 19.8%. As president Gritti will follow the new map of investments in development, confirmed even after a year that saw revenues drop by 29.5% compared to the 500 million recorded in 2019. Lockdowns all over the world weighed on, even if the opening of the “market” part made it possible to limit the loss of turnover.

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The new plans

Now Eataly starts again. And it does so with the landing in London where the first British store will open, which will also be the largest in Europe. Eataly has overcome a complicated moment for consumption but is now opening a new phase of development that will also see two new inaugurations. One in Italy, in Verona and the other in San Jos in California. As Tip we want to provide support and skills to the family at a time that requires a new challenge and a lot of courage, says Alessandra Gritti.

The means for growth

In 2020 Eataly had approved a capital increase, also to be carried out in two tranches. The first, of 25 million, was performed and provided the vitamins necessary to not block the plans. The second part to be defined according to the needs to support the plans of the future. Support also came from Sace, which provided the company with a loan guaranteed by one hundred million, also intended for future growth.

Nicola Farinetti, CEO of Eataly, said: We are very happy to see a professional esteemed by everyone even more involved in the Eataly group as president. His new position fully confirms the unity of intent of the members and represents a further strengthening of the group for future challenges.

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